AGM - Treasurer's Report
Treasurer's Annual Report 2020-2021 – Dan Nguyen-Vu
In 2020, VAPS suffered a total loss of $2,666, which is a slight recovery from a loss of $2,734 from last year (2019), but we are still far from the net profit of $2,252 achieved in 2018. VAPS is a charitable teaching association that relies on its members for support, often running events at cost to allow the greatest accessibility. Furthermore, considering that the COVID-19 pandemic reached its previous peak in mid-2020, our quick responses had saved us from any major losses, including the cancellation of the biennial conference.
Over a three-year period, our income exhibits a downward trend:
2018: $35,055 (+$10,503 for the biennial conference)
2019: $29,214
2020: $28,170
Our expenses also scaled proportionally:
2018: $32,803 (+$6,411 for the biennial conference)
2019: $31,948
2020: $30,838.48
There are three major sources of income for VAPS: membership subscriptions, tuition for VAPS training, and event entries. For a closer look at these three categories in the most recent three-year period:
Income from membership subscriptions:
2018: $10,959
2019: $7,540
2020: $10,959.20
Income from tuition for VAPS training:
2018: $7,406
2019: $141
2020: $11,410
Income from Events entries:
2018: $4,057 (+$4,092 for the biennial conference)
2019: $7,234
2020: $3,500
These numbers reflect the effect that the COVID-19 pandemic had on our activities. With most in-person events being canceled, our online presence and activities became essential for us to function in 2020. The decision to renew our websites and swiftly switch our training regimens and forums to an online format helped tremendously.
Even though hosting our events online came with unforeseen additional costs, our support network, including our volunteers who had devoted so much of their time, cooperating institutions such as The University of Melbourne and Ballarat Grammar, had helped us in keeping these costs manageable. VAPS is incredibly thankful for our network’s continued support.
With our new website and membership system, we saw an increase in subscriptions. Membership engagements and resource use also increased, thanks to the incredible job that our Education and Training Officer, Janette Poulton, and our volunteers, did in diligently transferring and reformat our resources quickly into our new website.
With a better online presence because of our new website, and that our training regiments adopted an online format, income from this source has a significant increase. This is most likely due to us being able to reach a wider audience, including overseas institutions, and have them participate in our training.
VAPS has been receiving a grant through the Victorian Department of Education's Strategic Partnerships Program to support regional and rural schools to access philosophy. Over three years, concluding at the end of 2020, VAPS will have received $28,542 in grant money. Currently, we have spent $4878.15 to support teachers to attend our conferences in 2018-2020.